NEW AFFORDABLE HOUSING COMING TO PEEL REGION

Government of Canada logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

Government of Ontario logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

MISSISSAUGA, ON, May 15, 2026 /CNW/ - To provide Ontarians with increased access to affordable and sustainable housing, the Government of Canada and the Government of Ontario announced over $28 million to support four housing projects.

These new homes are offering a diverse mix of unit sizes and varying levels of affordability to meet the unique needs of Peel Region that will provide 599 units. The projects are funded in part through the Ontario Priorities Housing Initiative (OPHI) and the Canada-Ontario Community Housing Initiative (COCHI), in addition to the federal-only Rapid Housing Initiative and Affordable Housing Fund.

Credit River Way, located at 200 Missinnihe Way in Mississauga, is a seven-storey rental apartment building with 150 units that was completed in October 2024. It offers a mix of one-, two-, and three-bedroom units, and supports low- and moderate-income individuals with mobility needs. The project was built on former Imperial Oil lands in Port Credit, a site being redeveloped into a modern, mixed-use community that prioritizes sustainability, connectivity, and public access to the waterfront. The project received over $12.4 million under the joint Ontario Priorities Housing Initiative (OPHI). A further $24 million investment through the federal-only Affordable Housing Fund was previously announced in 2020.

Creekside Apartments, located at 1639 Lakeshore Road West in Mississauga, will provide 51affordable units for vulnerable residents facing housing insecurity, including women, BIPOC individuals, and those living with mental health, addiction, and physical or developmental disabilities. The transit-oriented development will include wellness-focused amenities and is close to schools, parks, social services, and the Clarkson Business Improvement Area (BIA) commercial corridor. The project is receiving $1.8 million under the Canada-Ontario Community Housing Initiative (COCHI). The federal government invested a further $19.7 million in support of the project through the Rapid Housing Initiative, which was previously announced in November 2023. The project is currently under construction and is tracking to be completed by late 2026 to early 2027.

Chelsea Gardens, located at 6 Knightsbridge in Brampton, will be a twenty-storey affordable housing tower comprised of 200 units once complete in 2027. This project will be centrally located, close to a major transit station, grocery stores and shopping centre. It will include a library, meeting room, kitchen and administration support areas. The project is receiving over $7.2 million under the Ontario Priorities Housing Initiative (OPHI). This follows a federal investment of $42.5 million announced in 2020 through the Affordable Housing Fund. 

Finally, the Basswood Senior Residences, located at 527 Main Street North in Brampton, will offer 198 affordable rental units for seniors once complete in 2027. Part of Peel Region's Campus of Care, a community that delivers a continuum of care that enables residents to age in place, the site will provide residents with easy access to transit, essential services, support programs, and a variety of community and health services. Over one-third of the units are fully wheelchair-barrier-free and include features such as pull-under cooktops, accessible millwork, and transfer spaces. The project is receiving over $6.9 million under the Ontario Priorities Housing Initiative (OPHI). This follows a $37 million federal-only investment through the Affordable Housing Fund, which was announced in 2020.

Today's announcement took place at Credit River Way, and was made by Charles Sousa, Member of Parliament for Mississauga--Lakeshore, on behalf of the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Laura Smith, Parliamentary Assistant to the Honourable Rob Flack, Ontario's Minister of Municipal Affairs and Housing. They were joined by Rudy Cuzzetto, Member of Provincial Parliament for Mississauga–Lakeshore, Charmaine Wiliams, Member of Provincial Parliament for Brampton Centre, Harkirat Singh, Deputy Mayor of the City of Brampton, Carolyn Parrish, Mayor of the City of Mississauga, and Nando Iannicca, Chair and Chief Executive Officer, Peel Region.

Solving Canada's housing challenges requires immediate action to bring down costs. Central to this work, the Government of Canada has launched Build Canada Homes (BCH), which is helping increase the pace of affordable homebuilding. BCH is also helping fight homelessness by building transitional and supportive housing -- working with provinces, territories, municipalities, and Indigenous communities. It is building deeply affordable and community housing for low-income households and partnering with private market developers to build affordable homes for the Canadian middle class. As part of the Government of Canada's broader efforts to respond to the housing crisis, investments are being made across the housing continuum to meet the needs of communities across Canada.

Quotes:

"The federal government is committed to helping communities develop local solutions to address the housing crisis. The projects announced today will provide more safe, affordable homes for the residents of Peel Region. I'm proud of our government's involvement, and of the tangible difference it will make for people in this community"– The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

"Everyone deserves a roof over their head and a safe place to call home. This announcement will help many families and individuals to heal and rebuild their lives, offering not just a home but also hope.  The federal government's ongoing support and commitment to creating affordable housing will help improve the lives in our community, here in Peel Region."  – Charles Sousa, Member of Parliament for Mississauga--Lakeshore

"Our government believes that everyone in Ontario deserves safe and affordable housing that meets their needs. By investing in new and existing housing, cutting red tape and working with partners at every level, we are creating the conditions to get shovels in the ground faster, building stronger communities and supporting a more resilient Ontario for generations to come." – The Honourable Rob Flack, Ontario's Minister of Municipal Affairs and Housing

"Today's announcement reflects our ongoing commitment to protect Ontario by ensuring everyone can have a place to call home. We will continue working with our partners at every level to expand affordable housing in every corner of the province." – Laura Smith, Parliamentary Assistant to Ontario's Minister of Municipal Affairs and Housing

"Every person in Ontario deserves access to safe, secure, and affordable housing. Our investments in projects like Credit River Way and the Creekside Apartments will help to create more housing options for families, seniors, and vulnerable residents across Peel Region. We will continue to work together with our municipal and federal partners to deliver meaningful housing solutions, and to build a stronger future for Mississauga–Lakeshore and communities across Peel Region." – Rudy Cuzzetto, Member of Provincial Parliament for Mississauga–Lakeshore

"Chelsea Gardens in Brampton Centre represents a meaningful step forward in addressing the urgent need for affordable housing in our community. This investment will help deliver 50 new affordable homes for individuals and families who need it most, providing stability, dignity, and opportunity. I am proud to see our governments working together to bring real results to residents of Brampton Centre." – Charmaine Wiliams, Member of Provincial Parliament for Brampton Centre

"Our government is continuing to take action to address the growing need for affordable housing across Brampton and Peel Region. These investments will help create more safe and affordable homes for seniors, families, and vulnerable residents while supporting complete communities connected to transit, services, and opportunities. Projects like the Peel Manor Seniors Rental Building will make a meaningful difference for Brampton residents by expanding access to affordable housing options and helping ensure more people can build their future right here in our community." – Amarjot Sandhu, Member of Provincial Parliament for Brampton West

"Peel Region's affordable housing crisis has reached a critical point, and it demands a shared response. Today's announcement gives us real momentum. We're grateful for continued investment from our federal and provincial partners and commitment from Indwell to continue to create more affordable community and supportive housing for our residents." – Nando Iannicca, Chair and Chief Executive Officer, Peel Region

"The collaboration of all levels of government, along with strong community support, makes solutions like the 50 permanent supportive homes at Creekside Apartments possible. We look forward to welcoming each individual and some families early next year." – Jess Brand, Regional Director, Indwell

Quick Facts:

• The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. 
  • As of December 2025, the federal government has committed $76.13 billion to support the creation of over 195,800 units and the repair of over 359,400 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence. 
  • The NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. 
• The Ontario Priorities Housing Initiative (OPHI) is a funding initiative delivered as part of the Canada-Ontario Bilateral Agreement under the National Housing Strategy. Under the 10 year National Housing Strategy Canada–Ontario Bilateral Agreement, the federal and provincial governments have each committed approximately $378 million in OPHI funding, for a total of $756 million, to protect, renew, and expand affordable housing, while advancing Ontario's priorities related to repair, new construction, and affordability.

• The Canada-Ontario Community Housing Initiative (COCHI) is a funding initiative under the Canada-Ontario Bilateral Agreement. The funding helps repair, regenerate and expand community housing, as well as provide rental assistance to those living in social and affordable housing. It can also be used to support community housing providers whose original program arrangements are expiring. 

• The Affordable Housing Fund (AHF) provided funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This was a $16.1 billion program under the National Housing Strategy (NHS) that gave priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults. The application portal for AHF is now closed as all funding has been committed.
  • As of December 2025, the Government of Canada has committed $14.44 billion to support the creation of over 56,900 units and the repair of over 174,700 units through the Affordable Housing Fund.
  • On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the AHF's New Construction Stream, to support the creation of over 5,000 new units starting in 2025-26. Additionally, the AHF's Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years. 
• In March 2026, the Governments of Canada and Ontario signed the Canada-Ontario Partnership to Build in support of the shared goals of boosting housing supply, advancing key transit projects, and strengthening economic growth. Under this new partnership, the federal government and the Ontario government will cost-match a total of $8.8 billion over 10 years to support housing-enabling infrastructure projects in Ontario, and the funding will be prioritized for municipalities that reduce and maintain reductions on development charges. This marks the federal government's first partnership through the Build Communities Strong Fund.
• Funding provided for Credit River Way is as follows:
  • $12,471,220 from the Ontario Priorities Housing Initiative (OPHI).
  • $24,000,000 through the federal-only Affordable Housing Fund, previously announced in 2020. 
• Funding provided for Creekside Apartments is as follows:
  • $1,800,000 from the Canada-Ontario Community Housing Initiative (COCHI).
  • $19,000,000 from the third round of the Rapid Housing Initiative previously announced in November 2023.
• Funding provided for Chelsea Gardens is as follows:
  • $7,240,700 from the Ontario Priorities Housing Initiative (OPHI).
  • $42,500,000 through the Affordable Housing Fund previously announced in 2020. 
• Funding provided for the Peel Manor Seniors Rental Building is as follows:
  • $6,986,400 from the Ontario Priorities Housing Initiative (OPHI).
  • $37,000,000 through the Affordable Housing Fund previously announced in 2020. 

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more about the portal and the Investment Policy Framework.
• CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. CMHC's mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, CMHC contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.
  Follow CMHC on X, LinkedIn, Facebook, Instagram and YouTube.  

• Ontario recently introduced the Building Homes and Improving Transportation Infrastructure Act, 2026, building on the Protect Ontario by Building Faster and Smarter Act, 2025, which helps speed up the construction of new homes and infrastructure by streamlining development processes, modernizing planning rules, and reducing costs, in partnership with municipalities.  
• For more information on affordable housing in Ontario, visit ontario.ca/affordablehousing or follow us on X. 

SOURCE Canada Mortgage and Housing Corporation (CMHC)

Contacts: Mohammad Hussain, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]; Michael Minzak, Office of Ontario's Minister of Municipal Affairs and Housing, [email protected]